Upside Down Mortgage

Posts Tagged ‘Feldman’

Loan Modification Problems

Question: How do you qualify for a loan modification?

I'm trying to apply for a Loan Modification and I asked my lender that question and they wouldn't tell me. I don't want to waste my time preparing for it when I won't be able to lower my interest rate = overall monthly payment.

I'm current on ALL of my bills and have a median credit score of 704. Every month, after all the bills I still have a little more than $800 left to spend. The only problem is, I've been with holding my tax and spent it on paying bills and other stuff that I won't have enough to pay the IRS in April of 2010 for the tax year of 2009. So that's my worry and that's why i want to lower my monthly payment so that I can save up enough to pay the IRS.

Please advise. Thanks!

Answer: Paying your income taxes is NOT grounds for a mortgage loan modification. You need to better manage the "other stuff" you're spending on.

Common Loan Modification Problems

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Loan Modification Market

Question: I'm working with countrywide to get a loan modification?

I've got them to agree to a modification. However, the principal balance is way too high still. Has anyone had any experience with lowering their principal balance it today's housing market?
Jessus, I'm not soliciting for a loan for god sake! I'm only asking for adive. You slime ball loan guys don't bother answering my question!
maybe I should be more clear I DONT NEED A LOAN!!! I have one! What I'm doing is working with my current mortgage company to modify my current loan. My question is... if anybody received a modification, have they ever gotten the mortgage company to approve lowering the balance of the original loan as well?

Answer: Yes. THey are severely understaffed in the modification department. They don't want to hire a bunch of people then lay them off in 8 months when the crisis passes. Most Countrywide mods are to give you a breathing space but not to lower the loan amount which is what you really need. Consider signing a deed to them before you get behind on payments..

Loan Modification Expert Moose Scheib on Fox News with Neil Cavuto

Loan Modification Help Center

Question: Do you know anything about Feldman Law Center?

Do you know anything about Feldman Law Center?
People have been complaining about paying for services at Feldman Law Center, but the services and promises were never delivered.

What do you know about this loan modification company? What do you know about the attorney who owns this center, Steven Craig Feldman? Have you had any experience with this company?
If you have had experince with Feldman Law Center, on a scale of one to ten, one being the worst, how would you rate the service?

Answer: run like the wind

Feldman Law Center- Loan Modification Help